IRS holding $760 million in unclaimed tax refunds

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IRS holding $760 million in unclaimed tax refunds

Nearly 760 million dollars in unclaimed tax refunds will soon become the property of the U.S. government if taxpayers don’t collect it.

The IRS says the money belongs to about 918,000 taxpayers who still haven’t filed their 2010 tax returns.

“The window is quickly closing,” IRS commissioner John Koskinen said in a statement. “We encourage students, part-time workers and others who haven’t filed for 2010 to look into this before time runs out on April 15.”

People who earn so little that they aren’t required to file a tax return often miss out on big refunds.

If you are among that group, you must file your 2010 return by April 15, 2014 in order to collect your refund.